Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.

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Wednesday, August 29, 2012

Europe slide becomes a slither

The latest Euro-zone manufacturing PMI was up a tad (though the services PMI fell by an even bigger amount, so that the average still declined).  But we've had sad little rallies before.  They;ve just fizzled out.

Hard to see how Europe can start recovering while deep fiscal cuts keep on being implemented and re-implemented.




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